The Good Guys acquisition was Richard Murray’s signature deal at JB Hi-Fi and its pandemic performance ‘incredible’, but maintaining the retailer’s unique culture was perhaps his biggest achievement.
JB Hi-Fi shares fell as much as 6.8 per cent after chief executive Richard Murray dropped bombshell plans to defect to Premier Investments, but the stock would no doubt have fallen more if former CEO Terry Smart were not replacing him.
JB Hi-Fi has long been considered one of the best-run retailers in Australia and both Smart, who was CEO between 2010 and 2014, and Murray, who took the reins in 2014, have maintained the outperformance established by Richard Uechtritz, who led the company for more than 10 years.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
